Pension Summary Plan Description

H.2 Benefit Service After June 30, 2003 and Before July 1, 2006

You earn a Straight Life Annuity payment at Normal Retirement Age for Contributions made on your Covered Employment after June 30, 2003 and before July 1, 2006. The accrual rate for this period is 1.25% of Contributions.

EXAMPLE:

During Plan Year 2004, Scott's employer contributed $9,200 to the Plan on his behalf. In Plan Years 2005 and 2006, Scott's employer contributes another $21,600 to the Plan on his behalf.

Plan Years 2004-2006
$30,800 x 1.25% = $385

As shown, Scott has earned a benefit of $385 per month at Normal Retirement Age for Contributions between July 1, 2003 and June 30, 2006.